UGANDA REFINERY PROJECT

Introduction to the Uganda Refinery Project, September 2013

Uganda's Refinery involves development of a greenfield oil refinery, with a capacity of 60,000 BPD in Uganda, and the associated downstream infrastructure (the Project). The Project will be owned by the selected firm/consortium and the GoU in a 60:40 partnership.

7th February 2015 - Government of Uganda (GOU) has selected the RT Global Resources - led consortium from the Federation of Russia as the Selected Preferred Bidder for Uganda’s Refinery Project, with SK Engineering and Construction led consortium from Republic of South Korea as the Alternate Preferred Bidder.

May 2014 - Uganda’s petroleum products consumption is at 27,000 barrels/day and that for East Africa is close to 200,000 barrels/day growing at an annual rate of about 7%. This fact presents an opportunity to Uganda, with the confirmation of over 1.4 billion barrels of recoverable oil in the country.

KAMPALA, 24th June 2014 – Two of the four bidders that submitted proposals to the Government of Uganda (GOU) for the role of lead investor for the 60,000 barrels per day (BPD) oil refinery and related downstream infrastructure have been invited to progress to the next stage of the tender process. This followed the issuance of a Request for Proposals (RFP) for the Uganda Refinery Project during January 2014 with a submission deadline of 30th May 2014.

Government issues Request for Final Offer for Lead Investor for Uganda’s Refinery Project

KAMPALA, 10th December 2014 – Government of Uganda (GOU) issued a Request for Final Offer (RFFO) to the two preferred bidders for the lead investor for the 60,000 barrels per day (BPD) oil refinery and related downstream infrastructure. The RFFO was issued to SK Group led Consortium (South Korea) and the RT Global Resources (Russia) led consortium on 27th October 2014.